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Innovation in High Yield Fixed Income

Innovation in High Yield Fixed Income

Within the fixed income universe, ‘fallen angels’ refer to high yield bonds that used to be classified as investment grade, but were since reduced to high yield. Research shows that fallen angel bonds’ prices tend to recover from the downgrade dip over a 30-60 months period.1

To capture the price dynamics over the potential rebound period, the Citi Time-Weighted US Fallen Angel Bond Select Index uses a time-weighting function that allocates higher weights to bonds that have more recently become ‘fallen angels’.

1 “Falling Angels & Forced Selling”, Citi Research, Mar. 2015

Learn about innovative high yield ETF investing:

PowerShares US High Yield Fallen Angels UCITS ETF <HYFA> Factsheet

<HDLV> - The 1-Year Anniversary Highlights

HDLV growth chart

The PowerShares S&P 500 High Dividend Low Volatility UCITS ETF (ticker HDLV) which reached its 1st anniversary in May 2016 has consistently outperformed the broad market S&P 500 Index1.

With an ETF distribution yield of 2.87%2 and as the ETF’s assets under management hit the US$ 500m mark2, we take a look back on some of the ETF’s key features.

Past performance is not a guide to future returns.

Learn more about HDLV:

Powershares S&P 500
High Dividend Low Volatility

1Source: S&P Dow Jones Indices,
as at 29 Jul. 2016

2Source: Invesco PowerShares,
as at 1 Aug. 2016

A Smoother Path to Emerging Markets, Eurozone and US Equity Income?

A smoother path to US equity income?

PowerShares’ range of three ETFs tracking High Dividend Low Volatility indices offers a unique blend of single factor strategies to help capture the performance potential of equities while seeking to reduce the volatility inherent in equity income investment.

Each ETF seeks to achieve a considered balance between dividend yield and volatility, by providing exposure to the high yielding companies within their respective underlying broad indices while meeting clearly specified diversification, volatility and tradability criteria.

Learn more about our suite of equity income ETFs:

PowerShares EURO STOXX High Dividend Low Volatility UCITS ETF <EUHD> Factsheet
PowerShares FTSE Emerging Markets High Dividend Low Volatility UCITS ETF <EMHD> Factsheet
Powershares S&P 500 High Dividend Low Volatility UCITS ETF <HDLV> Factsheet

European Investor Research 2015 report

Invesco PowerShares' annual investor research report 2015:
”The Emergence of a New Era in Index Investing”, conducted by independent company CoreData amongst users and non-users of Smart Beta, looks specifically at the drivers, challenges and implementation of Smart Beta and the potential for future adoption.

Our study compiles a total of 320 interviews across Germany, Italy, Switzerland and the UK. Despite regional variations, a common story exists and details of the transition and adoption of factor-based indices within Europe are covered in this report. Discover the wealth of data contained in this research and the potential future demand for Smart Beta.

Smart Beta Academia


What is the empirical evidence for Smart Beta? Is it possible to build portfolios of Smart Beta vehicles? What are the implications for investors’ due diligence when using Smart Beta vehicles?

Invesco PowerShares is the proud sponsor of a series of white papers produced by Cass Business School’s Centre for Asset Management Research. The papers look at the origins, the source of performance and due diligence challenges of Smart Beta.

Hedging against market uncertainty


In today’s market environment many investors are as equally interested in protecting assets as they are in generating returns. Having a strategy in place to hedge against potential market downturns can make sense, but predicting market turbulence - and timing hedges accordingly - can prove an almost impossible task.

PowerShares S&P 500 VEQTOR UCITS ETF seeks to manage this challenge. Employing a dynamic, rules-based methodology – which looks to identify market trends and indicate when and how it should adjust hedges – the index that this ETF is tracking seeks to generate positive returns in rising US equity markets with the intention to partially reduce potential losses in falling markets.

Learn more

Share Buybacks: A quality-factor strategy

What is a buyback programme?  How does it work?  Isn’t it just a US phenomenon?  Joe Becker, Invesco PowerShares Product Specialist, shares his insights on this potential investment opportunity and explains how an ETF can provide diversified exposure to this single factor strategy.

Note: J. Becker featured in this video no longer works for Invesco

Why Invesco PowerShares?

Intelligent Indexing - Invesco PowerShares offers a selection of Exchange Traded Funds (ETFs) that track "next generation" indices: Indices that go beyond merely tracking a particular market. Opening Quote We select indices that attempt to outperform markets through intelligent security selection and weighting."
Liquid solutions - Invesco PowerShares was founded in the US in 2003 on a vision of delivering investment performance through ETFs whose shares can be bought and sold on any business day. Opening Quote We are building solutions that offer investors liquidity, transparency, and provide access to targeted markets."

Invesco Standards - Invesco PowerShares is a global ETF leader managing assets in excess of US$100bn1 and acting diligently in its clients' interests.

1Source: Invesco, as at end of June 2015.

Opening Quote We are part of INVESCO Ltd., an independent global investment management firm dedicated to helping people worldwide build their financial security."

Discover the Power of Share Buybacks

Access the potential benefits of share buybacks with PowerShares Global Buyback Achievers UCITS ETF. This ETF - a first-to-market in Europe - tracks an index* made up of companies which have repurchased a minimum of 5% of their outstanding shares. 

Why consider a share buyback ETF?

  • Companies buying back their own shares tend to be more profitable
  • Their management tend to be shareholder friendly
  • Their stock price is often below fair value
  • The move to repurchase stock can be viewed as a vote of confidence by management

Learn more

*The Nasdaq Global Buyback Achievers™ Net Total Return Index


ETFs on Fundamental Indices

In an interview with the London Stock Exchange, Bryon Lake, Head of Invesco PowerShares (EMEA), looks at ETFs that track Fundamental Indices. Bryon elaborates on the differences to traditional ETF products, the types of exposures that are available and the ways that investors and advisors are using these alternatively weighted ETFs.

FTSE International Limited and London Stock Exchange Group plc have given Invesco PowerShares the permission to host this video on this site.


Important information

The distribution and the offering of the ETF in certain jurisdictions may be restricted by law. Persons into whose possession this document may come are required to inform themselves about and to comply with any relevant restrictions. This does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer is not authorised or to any person to who it is unlawful to make such an offer or solicitation. Persons interested in acquiring the ETF should inform themselves as to (i) the legal requirements in the countries of their nationality, residence, ordinary residence or domicile: (ii) any foreign exchange controls: and (iii) tax consequences which might be relevant.

Any investment in an ETF should be made on the basis of the relevant Prospectus and Key Investor Information Documents, including consideration of the investment objective, risks, charges and expenses. Further information on the ETF, including the Prospectus, Key Investor Information Documents and Supplements available at, from your local representative, financial adviser or broker.

Contact us

Thibaud de Cherisey
European ETF Development Director, PowerShares ETFs
+33 (0)1 56 62 43 04

Jean-Baptiste Lavollay
Responsable Commercial PowerShares - France
+33 (0)1 56 62 44 09

Issued by Invesco Asset Management S.A.

The price of ETFs and any income will fluctuate, this may partly be result of exchange rate fluctuations, and investors may not get back the full amount invested. Whilst an ETF will seek to track an Index, Invesco PowerShares does not guarantee that this will occur. Where Invesco PowerShares has expressed views and opinions, these may change without notice. When making an investment in an ETF you are buying shares in a company that is listed on a stock exchange.

Users of this site are advised to consult the general disclaimer regarding the information provided herein.